According to a survey by Amdocs Global, the business executives and industry leaders in Asia Pacific (APAC) need to shift a significant part of their focus oninnovation and change management. The survey studies that in future investment activities, the leadership panel will have to discuss how cutting edge technologies and innovative platforms can be mixed to create successful ventures. The survey concluded that about 67 percent of APAC CEOs in 2020 should be driven by a passion for innovation.

The demand for change management is also drawing an overwhelming response among Apac CEOs. According to the survey, 78 percent of the Apac CEOs said such change was necessary as rapid innovation by traditional and new players continued to revolutionize the way we communicate and consume information and entertainment.

Commenting on the widespread adoption of cloud services and big data, the survey pointed out that cloud services, customer experience and big data analytics will become a much followed strategy for the APAC CEOs in 2020. These APAC executives are considering a blended approach of both outsourcing and insourcing to drive these changes by 2020.

Teresa Cottam, chief strategist and founder at strategy consultancy Telesperience, who led the research stated, “According to executives from the largest service providers in APAC, future Telecom innovation in the region will be delivered through a team effort, rather than by individuals, and CEOs will be expected to play a critical role by assuming a collaborative leadership style and by creating organizational structures that stimulate innovation.”

The survey conducted was extensive in nature covering over world’s 100 largest service providers in terms of revenue, with in-depth interviews conducted with CEOs, C-suite and senior management executives from 30 of the top 50, including nine from APAC.